Europa Oil & Gas (Holdings) plc has been allowed more time to appraise the Cloughton gas discovery, within licence PEDL343, on the North Yorkshire coast.
ESTIMATE
The North Sea Transition Authority granted an extension to the licence’s initial term until 20 July 2026 and a further two years of the second term to 20 July 2028.
Project partners also include Egdon Resources plc with 40% and Petrichor Partners LP owning 20%.
PEDL 343 contains two adjacent blocks, TA09 and SE99a, and covers 110km2. Block TA09 lies along the east coast north of Scarborough with block SE99a to its west.
Operator and 40% licence owner Europa estimates Cloughton to have Pmean gross gas initially in place (GIIP) volumes of 192bcf.
The discovery well at PEDL 343 has flowed “good quality sweet gas at rates of up to 40,000 scf/day on natural flow”.
The company believes that a well could flow at 6 mmscf/day using the correct completion techniques.
Europa plans to apply for permits and approvals to drill an appraisal well.
“We are delighted that the NSTA has granted a two-year extension to PEDL 343 as it allows us to continue to progress the material Cloughton gas discovery towards commercialisation,” added chief executive Will Holland.